Wine - Gabon

Gabon, located in Central Africa, has seen a significant growth in its wine market in recent years. This can be attributed to several factors, including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Gabon have shifted towards a more sophisticated and cosmopolitan lifestyle, with an increasing demand for imported wines. This can be attributed to a growing middle class, who are willing to spend more on premium products. Additionally, there is a rising interest in wine as a social status symbol, with consumers associating it with luxury and sophistication. Trends in the wine market in Gabon are aligned with global patterns. One notable trend is the increasing popularity of red wine, which is favored for its perceived health benefits and rich flavors. Rosé wine has also gained popularity, particularly among younger consumers who are attracted to its light and refreshing taste. In addition, there has been a growing interest in organic and natural wines, as consumers become more conscious of their health and the environment. Local special circumstances in Gabon have also contributed to the development of the wine market. The country has a significant expatriate population, particularly from European countries, who have brought their wine-drinking culture with them. This has created a demand for a wide variety of wines, including those from traditional wine-producing regions such as France, Italy, and Spain. Furthermore, Gabon has a growing tourism industry, with visitors from around the world seeking unique experiences and indulging in local cuisine and beverages, including wine. Underlying macroeconomic factors have played a crucial role in the growth of the wine market in Gabon. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed consumers to allocate a larger portion of their budget towards premium products, including wine. Additionally, the government has implemented policies to attract foreign investment and promote tourism, which has further boosted the wine market. In conclusion, the wine market in Gabon has experienced significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the country continues to develop and its middle class expands, the demand for imported wines is expected to further increase. This presents opportunities for wine producers and distributors to capitalize on the growing market and cater to the evolving preferences of Gabonese consumers.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.